General Comments: Futures were lower, with London the lead to the down side on what appeared to be speculative long liquidation. The lack of Robusta supplies for the short term had supported the London market until yesterday, but the trade action yesterday seemed to be more chart related selling than anything else. Traders there are waiting for Vietnam to harvest and sell, but that is still a few weeks away. The harvest has been delayed due to rains throughout the country over the last couple of weeks. Traders expect more downward pressure on prices once the harvest starts to hit the market. Brazil is thought to have a lot of coffee to sell yet, and producers there have now sold about half of the crop. Colombia and Peru are actively selling. Producers all over the world are worried about the low prices and are trying to hold back on offers, but differentials and futures prices remain very low. Brazil markets appear mostly quiet. Coffee is available in Central America, but the market there seems quiet.
Overnight News: Certified stocks are lower today and are about 2.752 million bags. GCA stocks are 5.446 million bags, from 5.561 million last month. The ICO composite price is now 109.95 ct/lb. Brazil should get mostly dry weather through Wednesday, then some showers. Temperatures will average near to above normal. Colombia should get scattered showers, and Central America and Mexico should get showers and rains. Northern Mexico should be mostly dry. Temperatures should average near to above normal. Vietnam exported 63,553 tons of Coffee in September, down 23.8% from August and 8.6% from last year.
Chart Trends: Trends in New York are mixed. Support is at 115.00, 113.00, and 111.00 December, and resistance is at 118.00, 119.00, and 121.00 December. Trends in London are mixed. Support is at 1670, 1640, and 1600 November, and resistance is at 1730, 1750, and 1755 November. Trends in Sao Paulo are mixed. Support is at 138.00, 135.00, and 132.00 December, and resistance is at 142.00, 143.00, and 145.00 December.
General Comments: Futures closed a little higher in consolidation trading. Trading has been quiet as the harvest continues to move forward. The lack of USDA reports has greatly reduced volume as traders do not know exactly what is going on. India is suffering from a major cyclone that has hit the northeast part of the country. The area affected is a strong agricultural production area and some Cotton is produced there. Brazil conditions are reported to be very good in Bahia. US crop conditions right now are generally good in Texas. The Delta and Southeast are reporting generally favorable conditions as well. Trends turned down on the charts with the price action this week.
Overnight News: The Delta and Southeast will see showers move from west to east today and tomorrow. A few showers could develop in the Delta on Friday and in the Southeast on Saturday. Temperatures will average near to above normal. Texas will see light showers Friday, otherwise dry weather. Temperatures will average near to below normal. The USDA spot price is not available today. ICE said that certified Cotton stocks are now 0.036 million bales, from 0.35 million yesterday.
Chart Trends: Trends in Cotton are mixed to down with no objectives. Support is at 82.90, 82.50, and 81.70 December, with resistance of 84.20, 85.50, and 85.80 December.
General Comments: Futures closed lower as the weather stays tranquil in Florida. There will be less production this year due to greening disease and some unfavorable weather earlier in the year, but has no reason to rally as demand remains mostly on the weak side and there have been no tropical systems to hit the state. Production will be down due to the greening disease and some drought stress early in the year, but these losses are mostly factored into the price. Growing conditions in the state of Florida remain mostly good. Fry weather has returned and conditions are said to be very good in almost the entire state. Temperatures are warm. Brazil is seeing near to above normal temperatures and mostly dry conditions, but showers are likely late in the week.
Overnight News: Florida weather forecasts call for mostly dry conditions this week and showers this weekend. Temperatures will average near to above normal.
Chart Trends: Trends in FCOJ are mixed to down with objectives of 121.00, 117.00, and 107.00 November. Support is at 122.50, 121.00, and 118.00 November, with resistance at 125.00, 127.50, and 130.00 November.
General Comments: Futures were lower again as the Brazilian Real weakened against the US Dollar. The market had rallied in the last few sessions as the Real gained, but found plenty of sellers once the currency strength went away. Dry weather is still reported in production áreas of Brazil. Heavier rains seen in the last few weeks could have hurt Sugar yields, but yields could get a little better now with the return of drier weather. India should still have more than enough production to allow for exports. However, a cyclone is entering the country last weekend and could hurt crops. The Rupee has been working lower. There is talk of strong offers from Thailand, and Thai differentials are stable. Price action suggests that the rally is starting to stall, but nearby New York contracts could approach 1950 and strong resistance just above that level before finding much new selling interest from producers.
Overnight News: Brazil could see mostly dry conditions through Wednesday, then showers and near to above normal temperatures. .
Chart Trends: Trends in New York are mixed to up with objectives of 1940 and 1950 March. Support is at 1860, 1845, and 1835 March, and resistance is at 1915, 1935, and 1950 March. Trends in London are up with objectives of 511.00, 513.00, and 534.00 December. Support is at 499.00, 493.00, and 487.00 December, and resistance is at 505.00, 510.00, and 515.00 December.
General Comments: Futures closed higher as fears of short production returned. Traders expect strong data from the US as well once the data is released. The strong demand combined with ideas of short production this year was more than enough to keep the rally going yesterday and should be enough to keep prices strong for at least the near term. Production in West Africa suffered this year due to drought in production areas. Rains are fine now, but are expected to be above average for the last half of the month. More than normal rains could impede harvest progress and hurt bean quality. The quality could be hurt as most farmers do not have good storage facilities. However, a strong rally now might encourage farmers to sell, and that would help with the quality as the beans would move to better facilities near the ports. Malaysia and Indonesia weather is favorable with scattered showers.
Overnight News: Scattered showers are expected in West Africa. Temperatures will average near normal. Malaysia and Indonesia should see scattered showers, but southern areas could be dry. Temperatures should average above normal. Brazil will get mostly dry conditions and warm temperatures. ICE certified stocks are lower today at 4.005 million bags.
Chart Trends: Trends in New York are mixed to up with objectives of 2810 December. Support is at 2690, 2655, and 2645 December, with resistance at 2770, 2800, and 2830 December. Trends in London are mixed to up with objectives of 1840 December. Support is at 1745, 1730, and 1715 December, with resistance at 1810, 1840, and 1870 December.